Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Cap Rate: 4.9%
  • Listing ID: 802115
  • Posted On: Apr 10, 2017
  • Updated On: Dec 30, 2021

Description

Reset Property! Liberty Estates vacated all tenants in the first quarter of 2016 and began rebuilding. Now, as of January 2017, the mobile home park has been able to fill 7 spaces, 3 of which are park-owned homes. With 18 current vacancies (9 of which being park-owned), there is MUCH room for upside! Prior to 2016, Liberty Estates was able to make over $30,000 / year in lot rent alone!

With 12 rental homes, there is possibility for long-term wealth-building via selling the homes under a rent-to-own contract. This tends to lock in higher occupancy rates as well!

There are 3 wells on the property, 2 are operational, and a septic system with a brand-new $2,100 motor! Well & Septic expenses are owner-paid as of the moment, allowing additional upside for a flat-rate billing-back system to be put in place. Electric is serviced by the city and is the only utility paid by the tenants (only 15% of electric expenses are captured; more upside!).

Owner-Managed. Zoned for possible expansion!

Seller Financing Available! Terms to Be Negotiated.

Click Here for and Offering Memorandum: https://wwws.stagexchange.com/strattongroup/NV2

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 28.0 %
Average MH Lot Rent: $275
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $34,601
Operating Expense: $15,056
Net Operating Income: $19,545
Expense Ratio: 43.5 %

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic